Prenuptial agreements, commonly referred to as prenups, have become increasingly popular in recent years. A prenup is a legal agreement between two individuals who are planning to get married that outlines the division of assets and liabilities if the marriage were to end in divorce.
The use of prenups has been on the rise due to several factors. One of the primary reasons is that people are getting married later in life, often after they have accumulated significant assets. Another reason is that divorce rates are high, and people want to protect their wealth in case their marriage does not work out.
According to a survey conducted by the American Academy of Matrimonial Lawyers, 62% of the divorce attorneys who participated in the survey reported an increase in the number of prenuptial agreements over the past three years. This increase in the use of prenups is a clear indication that more people see the value in protecting their assets before getting married.
Prenups are not just for the wealthy. Anyone who wants to protect their assets can benefit from having a prenup in place. In fact, a prenup can provide peace of mind for both parties, as it outlines the expectations and obligations of each person in the marriage.
While prenups are becoming more common, they are not yet the norm. Many people still view prenups as unromantic and unnecessary. However, as more people become aware of the benefits of prenups, it is likely that their use will continue to increase.
If you are considering getting married, it may be worth having a conversation with your partner about a prenup. It may not be a topic that is easy to broach, but it is an important conversation to have. A prenup can protect your assets and provide peace of mind, which can ultimately strengthen your relationship and your commitment to each other.